ERS approves $30m in commitments

The US public pension has agreed to back two private equity funds.

Institution: Employees Retirement System of Texas
Headquarters: Austin, United States
AUM: $28.67bn
Allocation to alternatives: 24.47%
Bitesize: $50-100m

Employees Retirement System of Texas has agreed to commit $10 million to Camber Creek Fund III and $20 million to TA Select Opportunities Fund, according to a recent report on the pension’s website.

Camber Creek’s fund will be making venture investments in firms operating solely within the real assets sector. This marks ERS’ first commitment to a fund managed by Camber Creek. Elsewhere, TA Associates’ Select Opportunities Fund will be co-investing alongside the firm’s flagship growth equity series.

The $28.67 billion public pension has a 13.0 percent target allocation to private equity that currently stands at 14.23 percent.

As illustrated below, ERS has made nine commitments to private equity funds with a 2019 vintage, which combined constitute $484 million.

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